FX.co ★ Japan’s Composite PMI Edges Higher in February, Signaling Steady Expansion

Japan’s combined Manufacturing & Services Purchasing Managers’ Index (PMI) strengthened in February 2026, rising to 53.80 from 53.10 in January 2026, based on the latest data updated on 20 February 2026. The month‑over‑month gain points to a modest acceleration in private‑sector activity, with the index remaining comfortably above the 50.0 threshold that separates expansion from contraction.

The February reading indicates that Japan’s economy continued to expand for a second consecutive month, with business conditions improving compared with January. As the comparison period is month‑over‑month, the current figure reflects a stronger pace of growth in February relative to the previous month, while January’s 53.10 had itself represented an improvement against December’s performance.

The sustained readings above 50 suggest that both manufacturing and services contributed to overall momentum, underlining a stable backdrop for Japan’s near‑term economic activity as of February 2026.